Alchemy has completed its Q1 report of real estate agent profitability stats (which will be released soon) and there are 3 things I want you to look at.
- Are you being overly optimistic about the speed of growth this year? It’s nearly the end of May, and the 2024 trajectory is quickly solidifying. Evaluate honestly, how is your performance and does it warrant your staffing level? Stats show compensation is running high compared to revenue. What does yours look like?
- Have you right-sized your personal life to match your business? Too many have not adjusted their personal budgets to match their business income. The stats continue to show real estate agents are taking more out of the business in compensation and personal distributions than the business is making. (BTW, that’s a tax problem if you’re an S-Corp!)
- Have you shifted your business practices to what’s working today in the real estate market? Many Realtors are succeeding and having a great year. The difference maker from my vantage point between real estate agents struggling vs real estate agents at the top of their game is how quickly they make the changes they need to make.
In a rapidly changing business environment, speed to change is highly rewarded. (tweet this)
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